Ukraine’s Motor Sich to be nationalized
The enterprise will be returned to state ownership soon.Motor Sich is to be nationalized soon / Photo from UNIAN
Ukraine’s National Security and Defense Council (NSDC) has decided on the nationalization of PJSC Motor Sich.
The decision was taken at an NSDC meeting on March 11, NSDC Secretary Oleksiy Danilov said at a briefing following the gathering.
“The point at issue is Zaporizhia-based Motor Sich enterprise. The respective decision has been made today. According to this decision, the Motor Sich enterprise will be returned to the Ukrainian people, it will be soon returned to the ownership of the Ukrainian state in a lawful, constitutional way,” he said.
About Motor Sich
- Zaporizhia-based Motor Sich enterprise develops, manufactures, repairs, and provides maintenance of gas turbine engines for aircraft and helicopters, as well as industrial gas turbine units.
- It was founded in 1907 and originally manufactured farming equipment. In 1916, it released its first piston engine.